Crypto value prediction for BNB (BNB) and Dogecoin (DOGE)
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- Cryptocurrencies traded largely decrease at present, with Bitcoin dipping to beneath $29k.
- BNB moved above XRP though bulls must hold costs above $330 to maintain bears at bay, in any other case it might dump to $220 or decrease.
- Dogecoin spiked as Twitter rebranded to X. Can DOGE go increased?
Crypto news at present has been dominated by headlines across the launch of Worldcoin (WLD) token and Elon Musk’s Twitter rebrand to X. In the meantime, the broader crypto market has continued to see a stoop for main altcoins, with Bitcoin hovering simply above $29k following additional weak point on Monday.
Whereas analysts have outlined a possible upward flip after current consolidation, regulatory uncertainty stays a giant detrimental set off. Additionally key this week might be the general investor response to the Federal Reserve’s coverage resolution after their two-day assembly.
So, with these components in perspective, what’s the value outlook for BNB and Dogecoin?
BNB value outlook: $330 key help stage
BNB, the native coin of the Binance ecosystem, has overtaken XRP because the fourth largest crypto asset by market cap after the Ripple token slumped 6% on Monday. Nonetheless, BNB value can be down (at the moment 2%) and trades beneath its 20-day EMA.
BNB value chart. Supply: TradingView
Whereas help is probably going at $230, a dip beneath this buffer might permit bears to focus on a retest of areas beneath the decrease trendline of the symmetrical triangle.
It’s a state of affairs that might see BNB value such for contemporary footing round $220, an space that supplied a breather in June this yr and in December 2022.
DOGE value outlook: One other push associated to X?
Dogecoin (DOGE) value was an outlier of types at present within the crypto markets. Whereas all main altcoins dipped, the OG meme coin spiked by 10% to interrupt above $0.075.
As Elon Musk revealed Twitter’s rebranding to X, he put the DOGE image subsequent to the X brand.
$DOGE up nearly 10% as Elon Musk provides Doge brand to his profile location pic.twitter.com/vDYn4KPzq3
— Dan Gambardello (@cryptorecruitr) July 24, 2023
Bulls took cue to push the coin increased and have succeeded in conserving it above the 20-day and 50-day EMA.
Dogecoin value chart. Supply: TradingView
The transferring averages might supply a key demand reload zone ought to DOGE flip decrease. Nonetheless, the day by day RSI is trending upwards however not but overextended into the overbought territory.
This means potential upside strikes are nonetheless seemingly, significantly in relation to information round DOGE adoption on X.
If bulls push increased, the realm round $0.08 will probably be a key barrier that would want a convincing retest. $0.09 and $0.11 might be the subsequent bull targets. On the draw back, a breakout beneath $0.07 might threat a dump to $0.057.
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